5 MW AC Distributed Solar and Battery Energy Storage System Project in New York Announced by PowerBank

Executive Summary

• PowerBank Corporation announced execution of a lease agreement for a 5 MW AC hybrid solar‑plus‑battery energy storage project (NY‑Cloverdale Rd) in upstate New York.
• The project is expected to qualify for NYSERDA’s NY‑Sun Program and the Retail Storage Incentive Program, pending interconnection approval, permitting and financing.
• Completion will add to PowerBank’s pipeline toward its goal of >1 GW of development capacity and support New York’s target of 10 GW distributed solar and 6 GW storage by 2030.

Key Details

• Project Size & Type: 5 MW AC hybrid solar + battery energy storage (community‑solar model).
• Location: Upstate New York, designated “NY‑Cloverdale Rd” project.
• Lease Agreement: Executed; marks the first contractual step toward development.
• Incentive Eligibility: Anticipated qualification for NYSERDA’s NY‑Sun Program and Retail Storage Incentive Program.
• Development Stage: Preliminary screening analysis underway as part of interconnection process; next steps include securing interconnection approval, completing permitting, and arranging project financing.
• Strategic Fit: Adds to PowerBank’s existing >100 MW of completed projects and a pipeline exceeding 1 GW.
• Market Impact: Supports New York’s ambition for 10 GW distributed solar and 6 GW storage by 2030; aligns with growing demand from data centers and other large electricity consumers.
• Risks Noted: Dependent on receipt of community‑solar contract, interconnection approval, permits, third‑party financing, and continued availability of state incentives.

Notable Quotes

(No direct quotes were provided in the release.)